Contents
Buying Property in Greece as a Non-Resident
The 5 steps from tax number to signed contract — at a glance
Buying property in Greece as a non-resident doesn't start with finding a property. It starts with three things that need to be in place before you make any legal commitment: a Greek tax number, a Greek bank account, and legal representation. The order matters — skip a step, and the next one stalls.
The whole process can be completed remotely — without a single trip to Greece — provided your power of attorney is drafted correctly from the outset. For buyers based in the US, the Gulf, or Asia, that's worth underlining: being in Greece in person is a convenience here, not a legal requirement.
1. What You'll Need Before You Start
Every property transfer requires three things to be in place before the notary can legally draft the deed:
Greek Tax Number (AFM)
Your AFM — the Greek equivalent of a tax identification number — must appear on the notarial deed and the transfer tax return. Without it, no contract can be drafted.
A Greek Bank Account
Both the purchase price and the transfer tax must be paid from a Greek account.
Power of Attorney or Personal Attendance
If you won't be in Greece in person, you'll need a special notarial power of attorney — not a general one, and not a simple authorisation letter. It must expressly state the property, the price, and exactly what your representative is authorised to do.
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Identification documents. For all of the above you'll need a valid passport (required continuously, from the AFM application through to signing), your home country's tax identification number (TIN), proof of your overseas address — requested by both the Greek tax office and the bank — and proof of income and occupation, which the bank requires as part of its AML/KYC checks.
2. The 5 Steps of the Purchase
The process follows a fixed legal sequence. No step can be reordered or skipped without creating a problem in the next one.
Getting Your AFM
Issued electronically through myAADE via video identification (myAADElive), or by a representative holding a special authorisation. Takes 1–5 working days. Full guide to getting an AFM from abroad →
Opening a Bank Account
Requires your AFM, passport, and proof of income. Can be done in person or by power of attorney carrying an express banking mandate. Without a Greek account, neither the transfer tax nor the purchase price can be paid.
Legal Due Diligence on the Property
Your lawyer checks title ownership, encumbrances, mortgages, land registry status, and any planning violations. This check is completed before you commit to anything — not run in parallel with it. Full list of required documents →
Pre-Contract (Deposit)
A private or notarial agreement, typically with a 10% deposit — similar in spirit to exchanging contracts in English conveyancing, though the legal mechanics differ. The ‘double the deposit’ penalty isn't automatic. It only applies if the pre-contract expressly names the sum as an arrabonas (a Greek civil-law deposit-with-penalty): the buyer who withdraws forfeits it, and the seller who withdraws must return double (Article 403 of the Greek Civil Code). This is a default rule, not a mandatory one — the parties can agree otherwise. Without that explicit wording, the sum is treated as a plain deposit, with no penalty attached.
Article 402 of the Greek Civil Code: “If a deposit was given when the contract was concluded, and nothing else was agreed, it is deemed to have been given to cover damages arising from non-performance of the contract.” — Article 403: “The party at fault for non-performance forfeits the deposit given, or returns double the deposit received.”
The Purchase Contract
The notary drafts the deed once every certificate has been checked. Transfer tax — 3% of the taxable value, plus a 3% municipal surcharge on that tax, for an effective rate of 3.09% (broadly comparable to stamp duty or a real estate transfer tax elsewhere) — is calculated and filed electronically by the notary, and you pay it before signing. Registering the deed at the Land Registry completes the transfer of ownership.
3. The Role of the Power of Attorney
Buying property in Greece requires a special notarial power of attorney — not a general authorisation, and not a generic ‘power of attorney’ drafted to your home country's standard template. The distinction isn't a formality: a general authorisation simply isn't accepted for transactions involving real property rights. A power of attorney that falls short of the legal requirements gets sent back — and the deal stalls while it's redone.
A properly drafted power of attorney can cover three acts at once: obtaining your AFM, opening your bank account, and signing the purchase contract. For that to work, the mandate for each one has to be spelled out explicitly and separately — a single vague clause covering 'all necessary acts' won't do.
What the Power of Attorney Must Include
- An express, separate mandate for each act: obtaining the AFM, opening the bank account, and signing the sale contract.
- Your full details: name, passport number, home-country TIN, and address.
- A complete description of the property: exact address, KAEK (the land registry parcel number), and price range. Vague references aren't accepted.
- Your representative's details: name, AFM, and address.
Our office drafts the power of attorney and sends it electronically to the Greek Consulate or a local notary in your country of residence. You sign it there — no trip to Greece required. AFM, Taxisnet credentials, and powers of attorney: full guide →
4. The Role of the Notary and the Lawyer
In many countries, a single professional handles the whole transaction. In Greece, the roles are split: your lawyer protects your interests as the buyer, while the notary guarantees the legality of the transaction on behalf of the state. Worth noting for readers from common-law countries: a Greek notary (symvolaiografos) is a fully qualified legal professional under civil law — closer to a notary in France or Germany than to a US or UK ‘notary public’, whose role is typically limited to witnessing signatures.
The Lawyer
Represents you as the buyer and checks the property's legal status: title ownership, encumbrances, mortgages, land registry entries, and planning violations. Negotiates terms on your behalf. Does not draft the contract.
The Notary
Drafts and certifies the final purchase contract. Verifies the seller's tax clearance, social security clearance, and the full set of required certificates. Registers the deed at the Land Registry. Acts as an impartial public official — representing neither party.
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5. Frequently Asked Questions
Yes. With a special notarial power of attorney, your representative signs the contract on your behalf. The power of attorney is signed before a Greek Consulate or a foreign notary with an Apostille. We recommend the draft be prepared by a Greek notary, so the wording is accepted without surprises.
The Property Transfer Tax (ΦΜΑ) is 3% of the taxable value — the higher of the property's assessed ‘objective’ value and the actual purchase price. A further 3% municipal surcharge is added on top of that tax, bringing the effective rate to 3.09%. The return is filed electronically by the notary, and you pay before signing. Without proof of payment, the deed cannot be drafted.
The Golden Visa is a residence permit granted to non-EU citizens who acquire property worth at least €400,000 (€800,000 in Attica, Thessaloniki, and other high-demand areas). The older €250,000 threshold still applies, but only to specific categories — listed buildings under restoration, or properties undergoing a change of use. The application is filed with the Immigration Department of the Ministry of Migration and requires an AFM, a Greek bank account, and a finalised purchase contract. Buying the property and applying for the Golden Visa are two separate processes, carried out one after the other — not simultaneously. Full guide to the Golden Visa →
It's not a legal requirement, but it's a practical necessity. Title due diligence uncovers encumbrances, mortgages, and unauthorised structures that don't appear in the sale agreement and aren't checked by the notary. A foreign buyer who skips this step becomes legally bound without knowing the property's real condition.
From getting your AFM to signing the contract: 4–8 weeks, provided your documents are complete from the start. The biggest delay usually comes from legal due diligence (1–2 weeks) and the tax office issuing the seller's tax clearance certificate. A Golden Visa case adds a further 2–4 months for the residence permit itself.
Every case is different. Let's talk about yours.
We handle the drafting of your special power of attorney, coordination with consular authorities, and the full legal processing of the transfer — from your first instruction through to registration at the Land Registry. Initial contact carries no obligation.
Christina G. Pachou
